Origo is set to export its electronic standards to several of the biggest
The Edinburgh-based organisation is a pioneer in setting common standards
for electronic trading of life and pension plans.
But now several major US players are understood to be interested in the
standards established by Origo, which are to be extended in the next two
months to the mortgage and managed funds industry in the UK.
The US market operates on a tied agency basis but the advent of internet
portals has opened up several distribution channels and the industry needs
common standards to keep costs down.
Operations director Paul Petitt says: “One or two of the big five US
insurers have been made known to us. The US model is quite different to the
UK. But now they now need to know how to support all the distribution
channels being offered to them.”